04 Aug 2018

Revealed: The growing value of homes near football grounds

Revealed: The growing value of homes near football grounds

Hibernian is sitting top of the table when it comes to the rising value of homes close to Scottish Premiership football grounds.

Property near the Edinburgh ground is the most expensive - and has also seen one of the biggest jumps in value in the last decade.

New research from Bank of Scotland shows the cost of a typical home near Easter Road is now £218,734 - a jump of 23% during the 10-year period.

Also experiencing 23% increases were Motherwell and Hamilton, up to £148,274 and £140,158 respectively.

Hearts came fourth, with a 17% hike to £179,718, while Livingston was fifth (+15% to £164,139), St Johnstone sixth (+9% to £161,608) and Kilmarnock seventh (+7% to £123,267).

Not so dandy...

However, the other five Scottish Premiership clubs were all in negative territory for the 10-year-period.

Dundee was eighth with a 2% drop to £114,068, Aberdeen ninth (-7% to £138,045), Rangers 10th (-8% to £88,572), while Celtic and St Mirren were joint bottom with 14% falls to £97,810 and £86,607 respectively.

Bob Fraser, Senior Property Partner at Aberdein Considine, said “wider economic factors” were behind the price drop recorded around Pittodrie.

“It has certainly been a game of two halves for Aberdeen over the past decade,” he said.

“Had this study been done in 2014, prior to the oil price crash, it would have had Aberdeen mounting a title challenge at the top of the table.

“However, after a difficult few years in the energy sector, average prices have fallen back. Nevertheless, there are early signs that average sale prices are improving."

Ten year view

Bank of Scotland said the average house price close to Scottish Premiership grounds increased by 14% to £152,803 in the last decade.

But it still can be a lot cheaper to buy a home near a Premiership football stadium than in the rest of Scotland where the typical  price is £175,866 - though this figure is down 1% in the last 10 years.

Graham Blair, mortgages director at Bank of Scotland, said: “Living next to a Scottish Premiership ground will always hold appeal for loyal fans. 

"However, some supporters will need to fork out more than others to live near their team's home ground.

"Hibs fans will need considerably more than Celtic or Rangers fans for a home where they can hear the match-day buzz. 

“Football will always be well-loved in Scotland and, given that house price rises near some of our Premiership stadiums have far outstripped house prices in the rest of the country, it seems that those who live near the stadiums at the moment could be in luck if they ever decided to move home.”

Scotland's property experts

If you are looking to buy, sell or lease property, Aberdein Considine can offer you the support of some of the most experienced property professionals in the country.

We are also an independent broker of mortgages and can offer home loans without any hidden fees.

If you would like to speak to a member of our team, call 0333 0066 333 or click here.

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